The Dental Menu Factor: Elevating Patient Retention and Practice Profitability

Well, and I really do view having a membership plan as a retention strategy above everything else.

You are inviting patients to be members of your practice and you really want to roll out the red carpet to all of those uninsured adults in the country.

And we have so many, right? 1099 workers and so many people that are independent or just don't have the insurance offered through their employer.

So it's really important.

For most practices, I don't think it's one size fits all.

I think there's some practices where maybe it doesn't make sense.

But I would say for majority of the clients that I work with, they are offering something similar to this for the retention strategy.

You and I met previously, and I really liked the way you presented the strategy of collaboration.

kind of making this feel like a subscription.

That auto renew is the same way we just kind of turn on our Netflix and let it go.

Can you talk to me a little bit about that? Because I think that's eye-opening.

Yeah, sure.

So like most offices, these aren't new.

So years ago when we were starting to do this, they seemed to be a little bit more new.

Most people I'm assuming that are listening to this have at least heard of it.

Over 50% of the people that buy our software already have a plan that they're running themselves.

And so if you look at plans, when we look at them and they're being ran themselves, most people are running what I call more of a discount plan or a group on.

So it's usually two cleanings, two exams, set of x-rays, whatever, 15, 20% off for 500 bucks or whatever the charge is.

Even in the practice management software, the way they're being managed is, did the patient get their first cleaning? Or did they get their second cleaning and then those are written off as free? It's managed in your practice management software as a coupon groupon.

Hey, Caitlin bought two cleanings.

Did she use both of them up? And if so, does she need to now buy another two cleanings, two exams, and x-rays for $400 or $500? So what happens is you patient comes in, they have a treatment case of $4,000.

They buy the discount plan to get the 20% off.

They get the freebies.

But a lot of times they don't renew day three.

There's a lapse when we see it.